Alibaba unveils big cloud price cuts on AI rivalry

The Chinese internet pioneer slashed prices on scores of internet-based products and services by as much as 55%, and by 20% on average. — Bloomberg

Beijing: Alibaba Group Holding Ltd is rolling out its second major cost cuts for cloud services in years, aiming to win back users from rivals like Tencent Holdings Ltd competing to provide the tools critical to training artificial intelligence (AI).

The Chinese internet pioneer slashed prices starting yesterday on scores of internet-based products and services by as much as 55%, and by 20% on average.